In a move set to benefit first-time buyers across North Yorkshire, TSB has introduced a 95% loan-to-value (LTV) mortgage option specifically for new-build properties. This initiative means that buyers can now purchase a home with just a 5% deposit—a game-changer in areas like York, Malton, and Helmsley, where saving for a deposit remains a significant hurdle for many. This offer extends TSB’s previous 95% mortgage scheme, which was only available for older properties, now including new builds and shared ownership homes, expanding opportunities for buyers in the local market.

However, while the scheme makes homeownership more accessible, prospective buyers should be mindful of higher interest rates associated with high LTV mortgages. TSB’s new deals include a two-year fixed rate at 5.69% and a five-year fixed rate at 5.39%. As always, Boulton & Cooper advises consulting with local mortgage brokers to fully understand the long-term financial implications. This development offers a welcome boost for first-time buyers in the region and may drive increased interest in North Yorkshire’s growing new-build market.